Relating To Inclusionary Zoning.
The proposed bill requires each county to submit annual reports detailing their inclusionary zoning requirements, including information on housing units still owned by original owners and the resale prices or profits from resold units. This provision aims to increase transparency and understanding of the impacts of inclusionary zoning policies on the housing market within the state, encouraging local governments to review and possibly reform their zoning regulations over several years.
Senate Bill 867 seeks to amend the Hawaii Revised Statutes regarding inclusionary zoning, which mandates that a certain percentage of housing developed must be set aside for below-market rental prices. The bill introduces an exemption by stipulating that no law, ordinance, or rule can impose an inclusionary zoning requirement on housing that is sold perpetually to buyers who are residents of Hawaii, owner-occupants, and do not own additional real property. This exemption is intended to facilitate homeownership among local residents by eliminating requirements that could deter development or elevate market prices.
Notably, there are potential points of contention regarding the bill's impact on affordable housing. Proponents argue that exempting certain housing developments will encourage more construction aimed at local residents by reducing regulatory burdens. However, opponents may contend that reducing inclusionary zoning requirements could limit the availability of affordable housing options in the state, undermining efforts to assist low-income families. The long-term effectiveness of such exemptions in increasing access to affordable housing remains a concern among housing advocates.